Chrysler Properties definition
Examples of Chrysler Properties in a sentence
All costs and expenses derived from the delivery of possession of the Chrysler Properties will be borne by the Trustor exclusively.
The Trustee hereby accepts the foregoing assignment, undertakes to faithfully carry it out, and acquires fiduciary title to the Chrysler Properties so that the Chrysler Properties can be allocated exclusively to fulfilling the purposes of the Trust in accordance with the terms and conditions specified in the present Agreement.
The contribution of the Chrysler Properties to the Trust Assets is made on the understanding that the Trustor has reserved the right to reacquire the Chrysler Properties upon the termination of the present Trust, provided that the principal, interest, and other incidentals that apply in accordance with the Credit Agreement have been liquidated in full.
The Trustor will exercise due diligence in procuring, obtaining, or maintaining all governmental and non-governmental licenses, authorizations, consents, permits, approvals, certificates, and records as necessary with respect to the possession and use of the Chrysler Properties in accordance with applicable law.
In due course, if the Chrysler Properties are transferred in accordance with the purposes of the Trust, the notarized document by which the transfer is made will include text to provide that all obligations created by way of dispossession as a result of events occurring prior to the date of the signing hereof will be borne by the Trustor.
The Trustor hereby transfers to the Trustee fiduciary title to the Chrysler Properties, together with all rights and privileges corresponding thereto in law and in fact, free of any and all encumbrances, and without any reservations or limitations on ownership whatsoever.
The Trustor agrees to provide warranty of title in the event of dispossession as specified by law with respect to the Chrysler Properties, a responsibility that the Trustor assumes vis-à-vis the Trustee itself, thereby authorizing the latter to bind the Trustor to these terms vis-à-vis any party or parties to whom ownership of the Chrysler Properties is transferred, in accordance with the purposes of the Trust, if applicable.
Unless a Cause for Accelerated Maturity has occurred and continues to exist, the Trustor may (i) use the movables that form part of the Chrysler Properties in the ordinary course of its business and in accordance with their nature, and (ii) subject to the statements appearing below, replace and refurbish the movables that form part of the Chrysler Properties in the ordinary course of its business and to the extent permitted in accordance with the terms of the Credit Agreement.
The Trustor acknowledges and agrees that, if an Enforcement Event occurs, then the Trustor must deliver possession of the Chrysler Properties to the Trustee, or to any party designated by the Trustee, immediately but, at any rate, within a period not to exceed forty-five calendar days after the date on which the Trustee so requests in writing.
The transfer of the Chrysler Properties to the Trust Assets will be formalized through the formation of the present Agreement, in a notarized document, and through the recording of this Agreement in the Public Registries of Real Estate of the places in which the Chrysler Properties are situated.